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ICE BRENT: (H18) Gaining Traction Above...>

OIL TECHS
OIL TECHS: ICE BRENT: (H18) Gaining Traction Above 200-WMA
*RES 4: $70.36 - 2015 High May 6 2015 
*RES 3: $68.66 - Daily Bull channel top 
*RES 2: $66.94 - Monthly High Oct 6 2015 
*RES 1: $66.54 - 2017 High Dec 26
*PRICE: $66.14 @ 0330GMT
*SUP 1: $65.81 - Hourly support Dec 26 
*SUP 2: $65.04 - Hourly resistance Dec 26 now support 
*SUP 3: $64.43 - Hourly support Dec 22 
*SUP 4: $63.78 - Low Dec 21
*COMMENTARY: Bulls take comfort in the close above the 200-WMA ($65.27) that
reconfirms a bullish bias with focus now on $68.66-70.36 where the bull channel
top and 2015 highs are situated. The Bollinger top ($65.88) is the key concern
for bulls with potential to limit follow through. Bears now need a close below
$65.04 to ease bullish pressure and below the 21-DMA ($63.23) to pressure
$60.84-62.11 where the 55-DMA and bull channel base are noted.

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